Squawk on the Street Tariff Jitters Hit Stocks, Dimon on Market "Complacency," Nvidia Leads Tech's Big Week 7/11/25
Jul 11, 2025
Tensions rise as President Trump announces a 35% tariff on Canadian goods, sparking a stock pullback. Jamie Dimon warns of market complacency, urging caution. Meanwhile, Nvidia celebrates a $4 trillion milestone amid a tech surge. Discussions also highlight how advanced robotics are reshaping the economy, while European banking gains new insights. The podcast dives into the implications of ongoing M&A trends and the challenges businesses face with new trade policies, making for a dynamic analysis of current market conditions.
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Impact of Trump's Tariff Threats
- President Trump's tariff threats to increase rates on Canadian goods are stirring market uncertainty despite some coverage via USMCA exemptions.
- These tariff moves risk raising costs as the US tariff rate nears levels not seen in a century, impacting various industries including metals like copper.
AI and Robotics as Deflationary Forces
- Emerging deflationary forces from accelerated computing and generative AI could offset inflationary pressures from tariffs.
- Robotics like the "Norwegian robots" represent a wave of automation likely to reduce labor costs significantly in coming years.
Jim Cramer's Norwegian Robot Visit
- Jim Cramer shares his experience seeing the Norwegian robots at GTC and highlights their human-like capabilities.
- He imagines a future where most people will rent robots while wealthy oligarchs own multiple units.